What to Watch in The Day Ahead; Friday, May 16

(The Day Ahead is an email and PDF publication that includes the day's major stories and
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U.S. housing starts were likely up last month as the housing market continues to recover from
the unseasonably cold temperatures that gripped some parts of the United States. The Commerce
Department is expected to report that housing starts increased to a 980,000-unit rate in April
from 946,000 units in March. Permits likely increased to a 1.01 million-unit pace from 997,000
million units in March (0830/1230). Separately, the Thomson Reuters/ University of Michigan
preliminary gauge of consumer confidence for May is also scheduled for release. (0955/1355)
Federal Reserve Bank of St. Louis President James Bullard speaks on the U.S. economy and
monetary policy at an event hosted by the Arkansas Bankers Association.
Solar panel maker Canadian Solar is expected to post a quarterly profit for the third straight
quarter when it reports first-quarter results, as demand from the United States and Japan keeps
improving. But China was subdued in the first quarter due to seasonal weakness. Weak panel
prices are also likely to continue to weigh on the company's results. Investors will be looking
for details on the solar power plant business and the company's plans to spin off some plants
into a separate, publicly-listed company.
Chinese online cosmetics retailer Jumei International Holding Ltd is set to go public in an IPO
that will likely value the company at $1 billion. However, the company has tempered its IPO
expectations, saying it now plans to raise $200 million from its initially planned $400 million
offering. Jumei plans to sell 9.5 million American Depositary Shares at $19.50-$21.50 each. The
company is backed by venture-capital firm Sequoia Capital.
Car comparison website TrueCar is looking to raise up to $109 million by offering 7.78 million
shares at $12-$14 per share. Truecar.com allows visitors to view the average selling price of a
new car, its sticker price, the site's estimates of a good price and the price that dealers in
its network are offering. At the top end of the expected price range, TrueCar would be valued at
about $1 billion.
(Compiled By Ayesha Sruti Ahmed in Bangalore)